Jim Rogers is known for his bluntness. In an interview to ET, he said “Modi has done nothing but talk”. He pointed out that nine months have passed and there is no action to be seen. He added that “International investors are getting a bit tired of the Modi talk unless something real happens soon”.
Jim Rogers sent the grim warning that “I don’t know how much longer I and other global investors will hold on to the Indian markets”.
Some experts believe that the humiliating loss to AAP in the Delhi State elections will spur NAMO to unleash some big-ticket reforms in Budget 2015.
There is a precedent for this. When MMS had been called a “dehati aurat” by Nawaz Sharief and a “sorry figure” by Washington Post, he (and Sonia) unleashed the FDI reforms. This was their way of showing that they had the guts to take action. The markets had gone flying.
NAMO may do the same in Budget 2015 is the fond hope.